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Google became a member of the governing body of the distributed accounting startup Hedera Hashgraph, according to an announcement published by Google on Tuesday (11).

The Google Cloud unit said that “as part of our advice, Google Cloud will operate a node in the Hedera network and make the accounting data available for analysis with GCP's other public DLT data sets, reinforcing GCP's position as a provider of cloud for DLT networks and decentralized applications ”.

"We are inspired by what Hedera has achieved so far and look forward to providing the infrastructure and technologies to support what is possible with distributed accounting technology," wrote Allen Day, Google Cloud developer, in the publication.

The change represents the deepening of an existing relationship, according to Hedera.

"Initially, we looked to Google Cloud for its ease of use, network benefits and overall platform performance," said Atul Mahamuni, senior vice president of products at Hedera, in a statement. "The Google Cloud Platform was the perfect foundation to help us achieve our goals of increasing DLT adoption out of the enterprise."

Cryptocurrency price skyrocketed

After the announcement, the HBAR cryptocurrency, which was quoted at $ 0.02, hit $ 0.08, a 300% appreciation in just over twelve hours. This Thursday the price has already retreated a little and is quoted at US $ 0.055.

HBAR currently occupies the 47th position among the largest cryptocurrencies in the market, with a capitalization of US $ 178 million.

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